VN-Index drops second day

Vietnam’s benchmark VN-Index declined for second day on February 16 as tightened credit policy weighed on sentiment, urging investors to reduce their holdings.

The measure of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange cut 0.23 per cent, or 0.9 points, to close at 396.51 points.

Trading on the city bourse dropped by 24 per cent in volume and 17 per cent in value over the previous day as around 34.9 million shares changed hands at a total value of VND658 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 6.22 million shares changing hands.

Ocean Group Joint Stock Company (OGC) ran behind with 1.78 million shares traded.

Military Commercial Joint Stock Bank (MBB) came next with 1.26 million shares.

Ho Chi Minh City-based Refrigeration Electrical Engineering Corporation (REE) tumbled 10.79 per cent to close at VND12,400. The company will pay dividends for the year 2011 to its current shareholders in cash at a ratio of 16 per cent on April 6.

Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD) chopped 7.14 per cent to close at VND1,300.

An Phu Irradiation Joint Stock Company (APC) destroyed 4.94 per cent to close at VND15,400.

Viky Plastic Joint Stock Company (VKP) surged 16.67 per cent to close at VND700.

Basa Joint Stock Company (BAS) escalated for three straight trading sessions, closing up 11.11 per cent to close at VND1,000.

Vietnam Land Investment Corporation (VNI) curbed its two-day losing streak, winning 5 per cent to close at VND4,200.

The VN30 Index slid 2.54 points, or 0.57 per cent, to end at 443.54 points, the lowest since it was created last week. Among its 30 members, 13 stocks rallied, 6 declined and 11 closed unmoved.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north recovered 0.61 per cent, or 0.37 points, to close at 60.58 points. Around 32.32 million shares changed hands at a total value of VND265.26 billion.

The UPCoM-Index of unlisted shares ruined 0.64 per cent, or 0.22 points, to 34.34 points at 11.30 am local time. A total of 118,800 shares were traded at VND697 billion.

By Thuy Doan

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